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Republican Corporate Chairman On Whether Tax Cuts For The Rich Create Jobs: ‘That’s So Baloney'

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posted on Aug, 22 2011 @ 10:16 PM
“The middle class should be furious”. No, this was not a quote by Warren Buffett, it was not by Richard Trumpka, and no it was not by any specific Democrat, it was in fact said by multi-millionaire and chairman emeritus of H&R Block, Henry Bloch. During an interview for Fox4KC Mr. Bloch stated that “the wealthy have a debt to this country. They can afford to pay it and they should”. As he continued into the interview the topic of tax cuts for job stimulation came up. The Republican Bloch defied many of his fellow Republicans conventional beliefs about tax cuts on the wealthy for job creation by giving a strong answer: “That’s so baloney”.

“Rich people don’t create jobs. Companies create jobs,” he continued. Politics are to blame for the “coddling of the rich” as Buffett said. Bloch said the middle class should be furious that the rich pay so little in taxes as they hide their money in trusts and with their children. Then a point which should make anyone mad at our current tax policy, he said, “You probably pay a higher rate than I do… and yet my income is probably many times what yours is,” Bloch said to the reporter.


Why is the GOP continuing with this idea of the ‘rich pay less taxes = job creation’, when the rich are coming out saying it is “baloney” and that their taxes can afford to be raised? It raises the question then of who exactly they are speaking on behalf of? The people who do create the jobs, which Republicans claim to be channeling, are telling the Republicans that they are crazy on this issue.

Not to mention the many news reports circulating about the issue of taxes and how they are not a crime against humanity and a destroyer of business. Perhaps if the GOP wanted to truly help stimulate job growth they would raise income taxes on the rich, close all loopholes, and cut the corporate tax.

GOP may OK tax increase that Obama hopes to block
Plutocracy: If Corporations and the Rich Paid 1960s-Level Taxes, the Debt Would Vanish
Stop coddling the super-rich: Buffett
Fiscal Reality: The Problem Isn't Just Government Spending
GE, World's Largest Corporation, Paid Zero Dollars in U.S. Taxes Last Year

edit on 8/22/2011 by Misoir because: (no reason given)

posted on Aug, 22 2011 @ 10:46 PM
its not like they would pay anyway.

they just hide their money offshore or in the ways you stated.

posted on Aug, 22 2011 @ 10:48 PM
I just watched Bill Maher's "But I'm Not Wrong" and he had one really poignant comment on this exact topic; the super rich don't create jobs, they create wealth.

They create wealth for themselves by eliminating jobs, which are an expense in their accounts. They would rather have machines and robots do the work that human beings are paid to do, so that they can have more personal wealth for themselves. The owners of the means of production get rid of jobs to improve their own bottom lines.

It's basic economics. An aside, I loathe when Republicans say "tax cuts=more jobs, that's basic economics." It's an argument that makes absolutely no sense on the surface. Really basic economics go like this: less expenses means more profits.

posted on Aug, 22 2011 @ 11:25 PM
reply to post by Misoir

That's an argument I've never really understood, "Rich people create jobs" Does a millionaire one day say "You know what, I'm sick of golfing, I'm going to build a factory and provide lots of jobs for my community!".

"Enough dining in fancy restaurants every night, I'm going to build my own, but first I must hire many individuals to assist me and I will pay them in full"

I mean how exactly does that work? Can any believers in that principle explain?

I'm with Henry here, "that's so bologna".

Polls find the majority of Americans support raising taxes on the rich, as a way to reduce our debt

"The fact that we're even asking the question really speaks to the problems"
-- Words of widsom.
edit on 22-8-2011 by TupacShakur because: To edit my post

posted on Aug, 26 2011 @ 08:10 PM
We need a National Sales Tax on all products that aren't American made.

We will essentially punish ourselves for buying products not made in the USA, and should we choose to do so...that money goes towards staving off deficits.

Will create instant job demand in the USA.

Hopefully some day we fix our ridiculous trade policies.
edit on 26-8-2011 by David9176 because: (no reason given)

posted on Aug, 26 2011 @ 08:45 PM
what an idiot hey if he wants to pay more let him.

heres how the rich create jobs and people can aruge this til their blue in the face but it wont change the simple fact.

if you have more money you spend more money does a rich person buy a used car? no do they buy entry level homes no they dont.

people need to stop dehumanizing the rich for the simple fact what are they people. and like it or not the rich dont build everything they use the middle class does and rinse and repeat.

how many jobs do those 50 million americans on welfare create? none.

last count there are a little over 200,000 millioniares left in this country and every day they decrease in number.

and the guy from h and r block knows the fact of it all half this country doesnt pay taxes.

edit on 26-8-2011 by neo96 because: (no reason given)

posted on Aug, 26 2011 @ 08:59 PM
First things first. The reason we are in this mess is because congress doesn't know how to keep itself from spending money it doesn't have or start reaching into other programs funds, such as Social Security, to fund other entitlement programs. Until congress can get control of it's spending then no amount of tax increase is going to help the country because they are just going to spend whatever tax increase they legislate on other stupid stuff like pig research or something.

Second, America has the 2nd highest business tax rate in the world. If they want a steady stream of income that grows with the economy, they need to ditch NAFTA, impose import tariffs, ditch the current tax code, and implement a flat tax on consumption.

A flat tax on consumption at a rate of 25% with a GDP of 14 trillion dollars means the government would be pulling in 3.5 trillion dollars worth of revenue. I really don't know why our governments(state and federal) would need more than 3 and half trillion dollars to spend. That equals out to about 11 thousands dollars per person. More than enough to pay state employees and also have a decent safety net.

I forgot though, that makes too much sense. God forbid the government do something where they would actually pull in more money for helping keep a productive and steady growth environment.
edit on 26-8-2011 by Timing because: (no reason given)

posted on Aug, 26 2011 @ 09:04 PM
reply to post by David9176

I agree, I think that we need to put hefty tariffs on goods imported into this country. Make them so expensive to import that these companies will come here to start producing things again.

Republicans forget that their god Reagan, raised taxes 11 times.

What raising taxes on the rich does, is forces them to produce and sell more goods and services in order to make the money the can when taxes are low.

posted on Aug, 26 2011 @ 09:06 PM
The proof is that tax cuts for the rich crash the economy. It has happened when Reagan did it; Bush did it and in the twenties when Hoover did it the economy still went into depression.

Rich people ONLY use the extra cash on exotic speculations like they did in the run-up to the 2008 crash with those derivatives, and NEVER create any jobs. That is the biggest lie the republicans utter.

posted on Aug, 26 2011 @ 10:44 PM
reply to post by neo96

So that's the argument behind this whole "Job-creator" title? Rich people spend money, driving up the demand for products which requires more workers? I always thought it meant that they actually directly and voluntarily created jobs, like opening up a business or something....that is weak.

It would be much more beneficial and simpler to just tax them more rather than hope instead of saving their money that rich people spend a lot of it.

posted on Aug, 26 2011 @ 10:51 PM
reply to post by Misoir

I am happy for him saying this. I am glad I chose H&R Block now to be my tax aaccountants and when I get another job I will continue to use them. This seals the deal, I will forever be a loyal customer to them from this day forward EXCELLENT!!! And I agree with him and all the others. The rich should pay more because well, they have the money and how are you going to get more from the paupers? They know you can't get blood from a stone, right? I mean we could all just say to hell with it and stop producing and go off grid and provide for ourselves and families other ways they can't tax. We could all just choose not to be consumers, and break their banks. That would be royally peotic justice!

posted on Aug, 26 2011 @ 10:55 PM
reply to post by David9176

Tariffs also encourage importers like Sony to lower the prices on their goods so that they can compensate for the tariff. For example, a Bravia TV that is made in China for pennies on the dollar would have to be sold at a lower profit margin than a...

You know, this just wouldn't work because nothing is manufactured in America to compete with international brands like Sony and Banacol. It would really be national interest vs. massive transnational capital's interest. Unfortunately, there isn't really a strict line dividing the two; if our conglomerates fail, so do our states, which neoliberals have made sure depend on meagre corporate taxes.

posted on Aug, 26 2011 @ 10:56 PM
reply to post by inforeal

edit: duh, i totally misread you. Sorry.
edit on 26-8-2011 by SmedleyBurlap because: (no reason given)

posted on Aug, 26 2011 @ 11:02 PM
reply to post by neo96

how many jobs do those 50 million americans on welfare create? none.

You are wrong, I can go down to the local welfare office and prove to you there are jobs created by welfare recipients, there are job counselors, case handlers, paper pushers, etc etc etc working to provide those services, every time another thousand or so go into the welfare system they need to hire more of those positions, so yes, technically they do provide jobs albeit in a roundabout way. Also they employ drug and alcohol testing facilities and workers now as well, in Florida at least.

posted on Aug, 26 2011 @ 11:06 PM
reply to post by neo96

Only problem is, the cars they buy are foreign (
w many rich people u see driving fords?). The houses are in Switzerland.
Tax breaks dont create jobs, demand for goods and services create jobs. No matter how much they lower taxes, if nobodys buyin, nobodys hiring.
Henry ford understood this when he wanted to sell cars. If u dont pay the common man enough to buy your goods, they will not be sold. Pay them enough, and your goods will flow.
Simple economics, even a republican can understand that. Its time to face the truth without fear. Stop the lies.

posted on Aug, 26 2011 @ 11:15 PM
reply to post by ErEhWoN

Yes, Ford was the good kind of feudalist. He maintained strict control of everything under his command, but his workers benefited from his generous patronage. He rewarded their hard work because he knew that it was hard work and that they would be more loyal if they could live well off of the company's largesse.

posted on Aug, 27 2011 @ 12:08 AM
reply to post by TupacShakur

go ahead an tax them only 200 thousand left when their gone who the hell are you going to tax?

you? dont think so.

200 thousand millionaires 400 billionaires who can pick and and leave anytime they want.

you want to know what a country with no rich looks like?

the former soviet union emphasis on former and north korea.

hey but feel free to continue to act fascist.

posted on Aug, 27 2011 @ 12:10 AM
reply to post by ldyserenity

wrong dont think so 50 million "government employees" with all those government employees all getting paid by those people who do work.

if your getting paid by tax revenue your not creating any self sustained means of wealth creation

and that is is a self sustained means of wealth destruction.

posted on Aug, 27 2011 @ 12:13 AM
reply to post by ErEhWoN

yeah the problem is foreign with all parts in between made in china assemble in the us if at all

same with everything else the consumer buys on a daily basis but continue to go after the rich

the fact is money and jobs go to where the greatest demand is and where the enviornment is most friendly to business

and that aint this country proof of this thread and the endless fascist nazi class warfare and demagogery of the "rich"

and the get to the bones of it rich dont mean nothing and the biggest reason of that is inflation

the value of the dollar is meaningless and so is the terms millionaires and billionaires.
edit on 27-8-2011 by neo96 because: (no reason given)

posted on Aug, 27 2011 @ 08:14 AM
reply to post by neo96

So all teachers should be fired because their work doesn't produce monetary wealth? Or is there a kind of wealth and prosperity other than money and physical goods?

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